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How Entrepreneurs Need To Plan To Protect Their Business

The Startup Magazine

The legal structure will dictate how your business is taxed, how personal liability is handled, and how you can raise capital. Common business structures include sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. Each has its own advantages and disadvantages. Image Credit 4.

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Exploring Tax Strategies For Small Businesses: Insights Inspired By Troy Renkemeyer’s Experiences

The Startup Magazine

Partnerships share income and losses among partners, affecting individual tax brackets. Maximizing Deductions One of the most direct ways to reduce your small business’s tax liability is to track and claim deductible expenses meticulously.

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Why Entrepreneurs Must Learn to Love Paperwork  

The Startup Magazine

There will be plenty of it early and often during your entrepreneurial journey, but rather than look at it as a headache you should consider the many ways in which it will help protect you, your family, and the company as a whole. Personal asset liability protection is not ironclad. Be able to prove due diligence whenever you can.

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Tips For Starting Up Your Own Roofing Company

The Startup Magazine

The most common types of business structures include sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. Sole proprietorships are easy to set up and offer full control, but they also come with unlimited personal liability.

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How to Put Personal Money into Your Startup In 6 Steps

The Startup Magazine

A limited liability company status, for instance, will protect you from your business’s legal hurdles and their costs too. Money that is loaned to a venture in this manner should, therefore, be recorded properly so that you can receive your dues in time. 2. Set up a legal entity for your business.

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How to Start a Business in a Month – #30DayChallenge

Up and Running

For example, Palo Alto Software focuses primarily on helping small businesses realize their dreams of starting a business. Many people reading this guide will already have an idea of what that is – perhaps a tutoring agency, or a restaurant, or a software company. Week 1 – Get the ball rolling.

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8 Steps to Starting Your Own Business

Up and Running

If you’re selling enterprise software, this may require a significantly larger investment than a coffee shop. Limited Liability Company (LLC). Being specific will help you focus your marketing message and investment. How easy is it (and how much will it cost you) to acquire a customer? Partnership. Corporation.